The Ministry of Foreign Affairs and Trade will review the entire text of the Korean-language version of the Korea-EU Free Trade Agreement, and correct any errors found before the provisional session of the National Assembly scheduled to begin in April.“Review will take place over the next three weeks from today until the end of March,” Deputy Trade Minister Choi Seok-young said. “A temporary taskf

The Fair Trade Commission ruled on Thursday Hana Financial Group’s takeover of Korea Exchange Bank does not violate competition rules, bringing the nation’s fourth largest banking group a step closer to winning regulatory approval due next Wednesday.The watchdog notified the Financial Supervisory Commission that the planned purchase does not necessarily reduce competition in the industry as the nu

Korea’s biggest investor the National Pension Service said Thursday that it would stop placing stock and derivative orders with the Korean branch of Deutsche Bank AG for six months following the regulator’s six-month suspension of the local unit. The pension fund will not trade through the German brokerage “to limit exposure to institutions that received regulatory penalties, in order to reduce th

A consortium led by state-run Korea Resources Corp. has dropped a bid for an Australian coal producer to focus more on other businesses, KORES said Thursday.“Coal is no longer a priority when it comes to our business. We have been concentrating more on developing other minerals such as rare earth metals and lithium lately,” a KORES official told The Korea Herald. The consortium also includes local

State-run Korea Trade-Investment Agency said Thursday that it will offer visiting consulting services for foreign firms in the country, aiming to boost their investments. “The consulting service is expected to raise the amount of foreign direct investments in the country, as we will visit foreign firms here and try to solve their difficulties from now on,” the trade agency said. The Investment Con

But industry officials complain that multiple issues still have to be dealt withAttention is focusing on what impact the revised bill to open up the game market will have on the local gaming industry.The parliamentary legislation committee passed a revised bill on game industry promotions Wednesday, following a two-year delay.According to the revision, games that are designed to be released in an

State-run corporations never cease to amaze us. According to a report released by Rep. Kwon Kyung-seok of the ruling Grand National Party, 22 state-run corporations spent 1.75 trillion won last year to pay bonuses to their employees, in crass disregard for their snowballing debts.These corporations paid 14.5 million won on average to each employee last year, an increase of 46.5 percent from the pr

Was she a mere visa broker or a spy of a Chinese intelligence agency? This question comes to mind first when we hear that several Korean diplomats at the consulate in Shanghai are accused of having affairs with a Chinese woman and leaking classified information to her.The scandal first surfaced in November last year but the ministries whose officers were suspected of being involved in it did not b

A recent U.S. Supreme Court ruling that would allow hateful protests at military funerals has resulted in a public debate over the limits of free speech. The court ruled that the First Amendment protected those who engaged in a venomous protest at the funeral of a Marine who had died in Iraq. Protesters from Westboro Baptist Church, whose headquarters are in Kansas, appeared at the funeral holding

Dance, monkey, dance.That’s what the United States has long shouted at immigrants and ethnic groups suspected of being disloyal. The nation asks its newcomers to perform in meaningless ways to “prove” they belong here.The dancers change, but not the dance. Because the United States is continually incorporating immigrants, the perceived threat of betrayal is constant. This week, Rep. Peter T. King,